Wednesday, January 7, 2015

Oil and Russia will rebound higher and Russia is a resource rich country

The oil market drop is not good for Russia – no question about that – and it’s making the ruble go down. But, no, I see this as an opportunity. Unfortunately, I’m not very good at timing, so I don’t know when the opportunity will be.Oil prices are not gonna stay down forever, I suspect. And Russia will rebound with oil or when they get their own act together. I mean, they’ll have to – if oil stays down at $60, they’ll have to get their act together and reorganize. But they’ve got enough resources. It’s a vastly, vastly rich country as far as resources are concerned. And it’s a very, very cheap market. I think it’s selling at half of book value right now. That’s not an expensive market.

It’s perhaps the most hated market in the world except for Argentina, I guess. And – well, not even that. Argentina’s not as hated, ’cause people are trying to raise money to invest in Argentina. So I guess Russia must be the most hated market in the world, which normally is an opportunity, Bob – normally. I mean, I emphasize normally. Who knows where the bottom is? I don’t.

Jim Rogers is a smart investor who co-founded the Quantum Fund with George Soros in 1973. By 1983 the fund gained more than 4000 percent.

Pages

Contact

Name

Email
*

Message
*

This is a Fan Based Blog. No endorsement or approval by Jim Rogers of any individuals , goods or services is implied. Text, Video and other content available on or via this blog are all available from public sources. All content is as accurate as much as possible, but it could be misquoted mischaracterized, used out of context or otherwise misrepresent Jim Rogers statements and views.